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U.S. bans BP from new government contracts after oil spill deal

• Reuters
 

The suspension, announced by the U.S. Environmental Protection Agency, comes on the heels of BP's November 15 agreement with the U.S. government to plead guilty to criminal misconduct in the Gulf of Mexico disaster, the worst offshore oil spill in U.S. history. BP agreed to pay $4.5 billion in penalties, including a record $1.256 billion criminal fine.

 

BP and its affiliates are barred from new federal contracts until they demonstrate they can meet federal business standards, the EPA said. The suspension is "standard practice" and BP's existing U.S. government contracts are not affected, it said.

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